Sterling And Wilson Renewable Energy Limited · NSE:SWSOLAR
Sterling And Wilson Renewable Energy — Sterling and Wilson Solar — H1 FY21 Earnings Presentation
18 slides from Sterling And Wilson Renewable Energy's earnings presentation, Nov 14, 2020
Slide 1: Exchange filing cover letter
November 14, 2020 BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers Exchange Plaza Dalal Street Bandra Kurla Complex Mumbai – 400 001 Bandra (East), Mumbai – 400 051 Scrip Code: 542760 Symbol: SWSOLAR Sub.: Investor presentation on the Unaudited Consolidated and Standalo
Slide 2: Analyst Presentation – Q2 and H1 FY21
STERLING STERLING AND AND WILSON WILSON SOLAR SOLAR LIMITED LIMITED Analyst Presentation – Q2 and Investor H1 FY21 Presentation Noor Abu Dhabi - World’s Largest Single Location Solar Project 14th November November 2020 2019
Slide 3: Safe Harbor
Safe Harbor This presentation and the accompanying slides (the “Presentation”), which have been prepared by Sterling and Wilson Solar Limited (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for
Slide 4: Contents
Contents 1 Key Highlights 3 2 Order book 5 3 Financials 9 4 Way Forward 15 2
Slide 5: Key Order Book Highlights
Key Order Book Highlights Healthy order inflow and robust order book ✓ Current year order inflow to date is Rs 6,116 crore (1.5 GW) i.e. 133% of restated FY20 order book (after exclusion of non-contracted projects) ✓ 8.0 GW contracted O&M as at 12th November 2020 (16% higher as compared to September
Slide 6: Key Financial Highlights for H1 FY21
Key Financial Highlights for H1 FY21 ✓ Revenue for H1FY21 stood at Rs 2,405 crore driven by significant pick up in execution of projects across all geographies in Q2FY21 ✓ O&M revenue increased by 57% in H1FY21 to Rs 121 crore compared to H1FY20 ✓ Gross margins stood at 9.6% in H1FY21 ✓ EBITDA for H
Slide 7: Significant geographic diversification continues
Significant geographic diversification continues FY19 FY20 H1FY21 EPC + O&M Revenue break-up by geography Australia India 5.9% India 12.3% Africa 19 Projects India 18 Projects 15 Projects 9 Countries 27.1% 7 Countries 1.8% 10 Countries 30.3% MENA INR 8,241 23.7% INR 5,575 INR 2,405 Americas MENA 25.
Slide 8: Unexecuted Order Value (UOV) Movement
Unexecuted Order Value (UOV) Movement INR Crore Gross UOV as on 12 Nov 2020 [EPC Revenue] (before adjusting revenue post 30th Sep 2020) 20,000 +5,696 +150 -2,283 * Europe 16,000 -5,815 MENA 2.7% 2.7% India 14.0% Africa 12,000 6.8% +420 11,396 Americas 25.8% 8,000 9,144 9,564 INR 9,564 crore Australi
Slide 9: Order Inflow – April to Sep 2020 and till date
Order Inflow – April to Sep 2020 and till date Country MW INR. Crore India 380 280 United States of America 194 728 Australia 450 2,625 Apr to June 2020 (a) 1,024 3,633 Chile 106 462 Australia 309 1,601 July to Sep 2020 (b) 415 2,063 Oct 2020 onwards Chile 86 420 Oct 2020 onwards till 12th Nov 2020
Slide 10: O&M Business – Key Highlights
O&M Business – Key Highlights INR Crore Revenue from O&M Operations Key Highlights O&M revenue increased by 57% in GW of solar power H1FY21 compared to H1FY20 8.0 projects with active 121 O&M constitutes 5.0% of revenue in service contracts H1FY21 compared to 3.2% in H1FY20 77 O&M EBIT margins
Slide 11: Consolidated Profit & Loss – Q2 and H1
Consolidated Profit & Loss – Q2 and H1 INR Crore Q2FY21 Q2FY20 H1FY21 H1FY20 FY20 Key Highlights Revenue from Operations 1,337 1,193 2,405 2,438 5,575 Revenue marginally lower in H1FY21 compared to H1FY20. There has been Gross Margin 117 195 231 378 715 significant pick up in the execution of proj
Slide 12: Other Comprehensive income – H1FY21
Other Comprehensive income – H1FY21 Derivative contracts The Group has taken forward contracts (including cross currency hedge) to hedge the exposure of currency fluctuation in respect of receivable from customers, trade payables and letter of credit. The AUD-INR derivative contracts were taken
Slide 13: Consolidated Balance Sheet
Consolidated Balance Sheet INR Crore Sep 20 Mar 20 Key Highlights Assets Assets Non current assets 123 91 Business continues to remain asset light Tangible assets (incl. CWIP) 49 43 Intangible assets 6 6 Increase in non-current asset on account of recognition of Deferred tax assets on Deferred t
Slide 14: Consolidated Cashflow
Consolidated Cashflow INR Crore H1 FY21 H1FY20 FY20 Key Highlights Profit before tax 37 177 398 Cash flow from Operations Adjustments for noncash / other items 14 81 (24) Cash flow from Operations higher in H1FY21 on account of higher Operating profit before working capital changes 51 258 375 coll
Slide 15: Core Working Capital
Core Working Capital Key Highlights INR Crore Sep 20 Mar 20 Negative working capital of Rs 72 crore as at Sep 20 compared to positive Current Assets 1,890 2,640 working capital as at Mar 20 and June 20 Improvement in working capital as at Sep 20 driven by combination of higher Inventories 52 14
Slide 16: External Debt and Intercompany Deposit movement post listing
External Debt and Intercompany Deposit movement post listing INR Crore Term Debt Intercompany Deposit (ICDs) Note: the above table excludes interest • Term debt reduced by Rs 1,931 crore from the date of • Repayment timelines extended till September 2021 listing till September 30, 2020 • Tangible se
Slide 17: Way Forward
Way Forward ❑ Increased market share target in Australia, Americas and Europe ❑ Further strengthening of management team in Spain to cater the fast growing European Market ❑ Improved O&M strategy under implementation for third party projects globally ❑ Solar projects along with energy storage and Fl
Slide 18: Thank You
THANK YOU For further information, please contact: Company : Investor Relations Advisors : Sterling and Wilson Solar Limited Strategic Growth Advisors Private Limited CIN: U74999MH2017PLC292281 CIN: U74140MH2010PTC204285 Mr Vishal Jain Mr Jigar Kavaiya / Mr. Parin Narichania Head – Investor Relation
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